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FirstRand Namibia profit down 23.7 percent
12 Sep

FirstRand Namibia profit down 23.7 percent

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Staff Writer FirstRand Namibia released its financial results for the year ending 30 June 2020 where its profit before tax decreased by 23.7 percent to N$1.21 billion compared to N$1.58 billion recorded prior year. “FirstRand Namibia entered this crisis in a position of strength in terms of capital, liquidity, technology and, importantly, talent. Considering the repo rate and prime rate reduction during the reporting period of 275bps, net interest income remained flat, N$2 013.4 million (2019: N$2 012.2 million). Interest expense decreased by 0.4 percent while interest income decreased by 0.2 percent,” FirstRand Namibia Chief Financial Officer Oscar Capelao said.…
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The Sports Minister misses the point
11 Sep

The Sports Minister misses the point

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Jefta Mcgregor Gaoab The Minister of Sports, Youth and National Service (MSYNS), [Hon. Agnes Tjongarero] hijacked and postponed the initially planned media press conference by Namibia Sports Commission (NSC), which was slated for Monday, 31 August 2020. This was done because the Minister was not receptive nor in favour of the interventions by the very NSC that is entrusted with the administrative task of National Sports Federation and national sports umbrella bodies. The issue of the application of NPL’s federation status was not resolved as the Minister intervened and halted it. Mind you the reader, irrespective of which body you…
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NAMDIA declares N$80 million dividend
10 Sep

NAMDIA declares N$80 million dividend

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Clifton Movirongo Namib Desert Diamonds (Pty) Ltd (NAMDIA) has declared a N$80 million dividend payable to the Government of Namibia for the financial period 2019/2020. The company’s full year profit after tax amounted to N$95.2 million, down 41 percent from prior year’s N$161.9 million, with N$63 million paid in taxes to the Ministry of Finance. NAMDIA also paid export levy amounting to N$19 million for the period under review. “NAMDIA performed relatively well during 2019/2020, despite an extremely challenging year for the diamond industry. This positive financial performance is attributed to a well-executed strategy that focuses on revenue maximization for…
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Local referees undergo FIFA online course
09 Sep

Local referees undergo FIFA online course

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Namibia Football Association (NFA) match officials are being taken through the ropes through the FIFA Member Association (MA) Elite Referee Online Course this week. The course is designed to develop and train referees remotely in order to be as safe as possible. The course will involve video presentations, online polls and questions-and-answer sessions. The four-day FIFA MA Referees online course which has thirty-five participants is being conducted by Tracy Lovell (Physical Instructor) and Ali Ahmed (Technical Instructor). Due to the major impact of the Covid -19, FIFA has been searching for alternative ways to continue their mission of supporting and…
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FNB records Q2 house prices softening
09 Sep

FNB records Q2 house prices softening

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Staff Writer FNB Namibia says although market sentiments point to further declines in house prices due to expected distressed sales, it is of the opinion that price contractions have reached their peak. “House price gains were notable in the Coastal and Northern regions, registering growth of 8 percent and 6 percent y/y respectively. Meanwhile, double digit contractions in house prices of 10.8 percent and 13.8 percent y/y were recorded in the central and southern regions due to affordability issues. As a result, the elevated demand for land in the central region led to a 12-month average price growth of 14.2…
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05 Sep

Couch Cat: Liberate your hair on lockdown

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Jackie Wilson Asheeke I have been wearing braid extensions since I was 21. Current articles on natural hair care say that I have done irreparable damage to my natural hair. They are right. The pulling, braiding, and twisting has weakened, thinned and broken off my hair. But, then again, I have had decades of loving my braided look. Life is all about trade-offs. That said, working remote at home in these pandemic days, there is no need to go out as much. So, I wear no braids most of the time. It was weird at first – I look so…
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05 Sep

New political formations, how ideological are they?

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Kae Matundu-Tjiparuro In the last edition, Yours Truly Ideologically compared the ideological position of the various political formations, during the First Phase of the Namibian Revolution. That is from the war of resistance against colonial penetration to the liberation war against colonial occupation, and even during the country’s first ever democratic elections, the 1989 UN-supervised elections. Despite some of the political parties initially gimmicking and posturing socialist positions, it transpired that in their manifestos for the 1989 elections, there was little difference in their economic policies, or their economic blue prints for the radical transformation of the country’s economy. Thirty…
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05 Sep

The King is dead; long live the king!

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The Time Traveler: Hugh Ellis Chadwick Boseman, who died of cancer last weekend, will forever be known as the actor who brought the Black Panther, King T’Challa of Wakanda, to life. I used to want to be the Black Panther. Wait a minute. Hear me out. I read the comics as a kid in the 80s and 90s, long before Black Panther was mainstream ‘cool’ and African Sci-Fi was the flavor of the month. As it was for many others, the story of the shadowy justice-fighter and the secret country of Wakanda lit up my humdrum existence. It may seem…
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05 Sep

I’ve hit a wall

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Jackie Wilson Asheeke For months I have avoided writing my personal feelings about the beginnings of a race war in the USA. I have been too irrational and furious on this subject. But, now with the new shooting of a black man in his back seven times, I’ve hit a wall. I cannot see a way forward and I cannot move backwards. I was already reeling when I saw a black man killed with a white cop’s knee on his neck. Though I was enraged that yet another black man lost his life to a racist policeman, I was also…
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Meatco to revamp NCA operations
05 Sep

Meatco to revamp NCA operations

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Staff Writer Recently appointed Chief Executive Officer of Meatco’s Northern Communal Area Subsidiary (Pty) Ltd, Kingsley Kwenani, has announced that the company, has come up with a short-term turnaround strategy to ensure the viability of the business based in the northern communal areas. The development comes as the Meatco subsidiary, has been a loss-making operation attributed to its business environment, factors which needed to be addressed for the long term survival of the unit. "I needed to find out what exactly we can do to turn the situation around. I did this by developing the Meatco NCA strategic policy. One…
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